UniCredit teams up with Chinese mobile payment platform

clock • 1 min read

UniCredit has partnered with Alipay, the world’s largest online and mobile payment platform, belonging to Ant Financial Service Group, a related company of China’s global player Alibaba.

Starting from today, for the first time in Italy, Alipay users will be able to purchase goods and services in Italy simply using an app.

That has become possible thanks to the enrollment of UniCredit’s merchant customers points of sale in reading bar codes generated by Alipay.

With more than 450 million active users, Alipay is the most widespread and used mobile payment method in China.

Alipay also enables in-store payments in many markets popular with Chinese tourists around the world. It is accepted in 70 countries and regions, with in-store payments covering more than 100,000 retail stores.

Thanks to the partnership with UniCredit and throughout SIA technological infrastructure, Alipay will potentially be used in a 120,000 large merchant network spread all over Italy.

“Thanks to the agreement signed with Alipay, we are the only Italian bank which enables merchants to accept payments from Chinese visitors via the Alipay app, enlarging their business potential,” Gianni Franco Papa, UniCredit general manager, said.

More on